Russian firms eye up loans as Covid-19, oil war raise pressure

Adobe_Russia_dollars_230x150_04March2020
By Mariam Meskin
01 Apr 2020

Russian commodity and metals companies are rethinking financing plans and talking to bankers about loans amid the drastic change in outlook due to Covid-19 and the oil price war. But bankers say borrowers insistent on pre-coronavirus terms on their deals must lower their expectations.

London-listed steel firm Evraz last week raised a syndicated loan, with lenders honouring the pricing terms agreed before the outbreak of the coronavirus that has wreaked havoc in markets.

The loan, a $750m unsecured five year credit facility, was underwritten by 10 international banks, led by ING. The facility ...

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